Widely regarded as the cutest
Mac, if not the cutest
computer in existence, (the
iMac is probably second place,) the Color Classic was introduced by
Apple in February 1993. Marketed as a color version of the old "classic" Macs, it sold well due to its cuteness and space-saving
prowess.
These things, like the PowerBook 2400c, have enjoyed a enormous cult following in Japan. Functionally, they were very compromised, having a 16 MHz '030 on a 16-bit data bus and a 512 x 384 display. However due to their slide-out motherboard design, these are very easy to upgrade and modify, and with very minor chassis changes that don't affect its external appearance, they can accomodate much faster motherboards from numerous other models. There are some out there that run 300 MHz G3 processors, that's as fast as the current iBook!
Another popular modification is to boost the display to 640 x 480, making it usable with almost every modern application. (And since Macs display fonts at 72 dpi, a 640 x 480 Mac screen often has more real estate than a computer running Windows at 800 x 600.) Unless you're experienced with CRT repair and electronics, this part can be very scary and tedious. Luckily, you can get MicroMac to do this part for you for $99.
There are so many things you can do with these machines, I've even seen them with internal CD-ROM drives, which is nifty since they don't have a 5.25" drive bay.
Low End Mac has a fantastic page on it, with pretty much every page out there on it listed there. Maxus Computer, a Japanese company, sells professionally modified Color Classics in custom colors with 300 MHz 603e processors, but they cost upwards of $4000, which I think is, well, a lot of money.
The Color Classic was discontinued in May 1994.